SP 8 - Agricultural economics

SP 8 objectives summary:

We aim to estimate the objective requirements and impacts of adopting environmentally friendly practices considering the necessary farm-level resources (capital and technology) as well as profitability and risk.

We aim to enhance farm managers’ decision-making processes and subjective perceptions of conventional and sustainable land use practices.

We aim to identify the socio-economic impediments which prevent the adoption of sustainable land use innovations. These can be both objective facts (e.g. missing capital, farm-level costs for providing ecosystem services) as well as subjective perceptions of the decision-making farm managers.

Through understanding of the socio-economic impediments we aim to identify effective and cost-efficient policy schemes (strategies) that secure farm incomes and influence land management towards environmentally desired outcomes. We also aim to estimate budgetary requirements of these strategies and the resulting aggregate land use and environmental changes.